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Thailand-based Minor International (MINT) has successfully completed
its tender offer for shares in NH Hotel Group at a price of EUR
6.30 per share.
A total of 187,289,383 shares of NH Hotel Group,
representing 47.8% of its outstanding shares, were tendered in the
tender offer.
Together with MINT’s pre-offer shareholding, MINT
has secured a 94.1% shareholding stake in NH Hotel Group, at a
total investment amount of EUR 2,327 million.
Dillip Rajakarier (pictured), CEO of Minor Hotels,
said, “The
acquisition of NH Hotel Group is a true game-changer for both MINT
and NH Hotel Group. We have complete confidence in the NH Hotel
Group’s business fundamentals and anticipate strong earnings results in 2018 and beyond, as management announced earlier this
year. NH Hotel Group has a clear, proven track record of delivering strong and consistent EBITDA growth, underpinned by a
strategic, high-value hotel real estate portfolio and deep relationships with asset owners and customers throughout Europe
and Latin America. I am personally very excited to welcome the
highly talented management team of NH Hotel Group and to work
closely with them. Together, I am confident that we will succeed
in bringing together our two great companies to create an even
more exciting proposition for all stakeholders.”
The acquisition
of NH Hotel Group gives MINT a platform
of 549 hotels across Asia, Australia, the Middle East, Africa,
Europe, Latin America and the US.
“We are extremely pleased
with the outcome of our tender offer,” said William E. Heinecke, Founder and Chairman of MINT. “The acquisition of NH
Hotel Group has transformed MINT into a truly global hospitality
company, with a strong focus on exceeding the expectations of
today’s customers. The combined MINT-NH Hotel Group platform
offers an extended product range across our combined brand
portfolio with global geographical coverage. This, combined with
the opportunities to leverage the respective strengths of MINT and
NH Hotel Group to our mutual benefit, make it an extremely
exciting time for our companies, our shareholders and our valued
guests.”
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